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Practitioner's Complete Guide to M&As: An All-Inclusive Reference, with Website by David T. Emott

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Topic 82

Negotiation: Build Trust to Get Closed

The road to a closing need not be unpleasant. If your negotiating style is based on creating a space resonating with trust the journey can be fulfilling for both parties to a deal. Topic 82 explores how to get there and how to handle the bully whose style is the antithesis of creating trust.

HOW TO CREATE TRUST

  • The road to negotiating a deal to closure is usually long and stressful, but it need not be unpleasant.
  • Negotiating is an intense, personal, high-stakes, sometimes confrontational, sometimes humorous journey—kind of like life.
  • The trick to getting to closure is to find answers that suit each party—hence the existence of different deal risk frontiers (see Topics 26, 73 and 84).
  • You get to the finish line of closing the deal by creating a successful negotiating space. This is a place of discovery characterized by:
    • Intense communication
    • Fact finding
    • Opinions and conclusions
    • Open dialogue
    • Honest assessment of positions: yours, theirs
    • Fair and prudent asking and giving
    • Sharing
    • Understanding of:
      • Facts
      • Feelings
      • History
      • Legacy
      • Association
      • Assumptions
      • Strengths
      • Weaknesses
    • Above all, trust
    • The best path to this space is rooted in behavior that leads to a deepening sense of trust between the players.

LET YOUR NEGOTIATING BEHAVIOR BE GUIDED BY YOUR DAILY SPIRITUAL NEEDS

  • Consider that if you let your behavior be guided by a desire to find fulfillment of your own daily spiritual needs, you can create resonance with the other side ...

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